ENTREC Corporation ('ENTREC' or the 'Company') announced that it has reached an agreement with the landlord of its Fort McMurray location, FM Airport Industrial Park Ltd. (the 'Landlord') to enter into a month to month lease and terminate the existing long-term lease for that location. Further to the agreement, (i) ENTREC paid all outstanding rental arrears owing to the Landlord and agreed to pay a further $2.9 million over 5 years; (ii) ENTREC issued the Landlord 18,000,000 common shares at a deemed price per share equal to the "market price" of ENTREC's common shares on the closing date ($0.06 per share); and (iii) ENTREC agreed to appoint one nominee of the Landlord to ENTREC's Board of Directors. The termination of the long-term lease will significantly reduce ENTREC's operating costs in the Fort McMurray region. The lease previously required monthly payments of $269,000 (inclusive of operating costs) and was not due to expire until December 31, 2030. The new month-to-month lease amount is significantly less than the previous monthly payment.